Stocks Get Earnings Boost as Traders Focus on Iran: Markets Wrap
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(Bloomberg) — Stocks rose amid strong corporate earnings as traders waited to see if Iran will join talks that could restore oil flows from the Middle East. The dollar edged higher while Treasuries slipped ahead of Kevin Warsh’s Senate hearing.
UBS Set for Long-Awaited Clarity on Switzerland’s Capital Rules
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(Bloomberg) — UBS Group AG is finally about to find out just how many billions of dollars Switzerland will strip from its capital buffers.
Barclays, Lloyds, UBS Among Banks Picked by UK FCA for AI Tests
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(Bloomberg) — Barclays Plc, Lloyds Banking Group Plc and UBS Group AG are among the latest group of lenders in the UK authorized to develop and test out real-world artificial intelligence applications, according to the Financial Conduct Authority.
Swiss Watch Exports Dipped in March Amid Iran War and High Costs
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(Bloomberg) — Swiss watch exports slid in March as the industry faced disruptions in the Middle East and contended with high precious metal costs.
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(Bloomberg) — Swiss real wages grew 1.6% last year, the biggest increase since 2009, according to the national statistics office.
Stocks Fall, Oil Jumps on Doubts Over Peace Deal: Markets Wrap
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(Bloomberg) — A rally in oil drove stocks lower as a turbulent weekend in the Middle East cast doubt on prospects for peace talks between the US and Iran before their fragile ceasefire deal expires.
War Revives Stagflation Dangers for Global Economy
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(Bloomberg) — The cumulative global impact of seven weeks of war in the Middle East will begin to emerge in the coming week, in a second round of business surveys from multiple countries.
China Calls On Swiss Firms to Step Up Investment, Cooperation
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(Bloomberg) — China Vice Commerce Minister Ling Ji urged Swiss companies to increase investment and cooperation with the Asian nation, highlighting opportunities under its 15th Five‑Year Plan.
Wall Street Extends April Surge on Peace Prospects: Markets Wrap
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(Bloomberg) — Speculation the Iran war is poised to end sent risky assets surging anew, extending a month-long rally that’s lifted the S&P 500 Index to a succession of records, added around $12,000 to the price of Bitcoin and pushed up credit and gold.
SNB’s Schlegel Stresses Higher Willingness on FX Interventions
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(Bloomberg) — The Swiss National Bank is more willing than usual to step into markets to ensure price stability amid higher energy prices, according to President Martin Schlegel.
Yield Bets Pay Off for Traders Willing to Tune Out War Risks
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(Bloomberg) — Those credit investors who gambled on higher-yielding corporate bonds in the midst of the Iran war are looking increasingly vindicated as markets rebound on hopes of a lasting truce.
Stocks Eke Out a Record as Mideast Tensions Linger: Markets Wrap
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(Bloomberg) — US stocks held onto record highs as traders digested a flurry of headlines on the conflict in the Middle East, brushing aside warnings that the US-Iran war would continue to linger for months.
SNB Backs Measures to Boost Competition on Cashless Payments
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(Bloomberg) — More competition in the processing of cashless payments would benefit consumers and improve resilience, according to two senior Swiss National Bank officials, who said authorities can take measures to encourage this.
US Stocks Close at Record Highs on Peace Hopes: Markets Wrap
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(Bloomberg) — US stocks closed at record highs on Wednesday, as a potential peace deal in the Middle East and a strong start to corporate earnings season stoked investor optimism.
Risky Bond Sales Sweep Europe at Fastest Pace Since Iran War
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(Bloomberg) — Financial borrowers rushed to sell riskier bonds in Europe at the fastest pace since before the war in the Middle East began, signaling buoyant credit market sentiment on potential talks to end the conflict.
US and Iran Weigh Extending Their Ceasefire by Two Weeks
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(Bloomberg) — The US and Iran are considering extending their ceasefire that ends on Tuesday by another two weeks to allow more time to negotiate a peace agreement, according to a person familiar with the matter.
Luxury Giants Slump as Gulf Demand Seizes Up Due to War
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(Bloomberg) — Seven weeks of war in the Middle East are stifling demand in the luxury industry with LVMH, Kering and Hermès all reporting weak first-quarter sales.
S&P 500 Closes Near Record on Iran Peace Push: Markets Wrap
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(Bloomberg) — Stocks surged on Tuesday, with the S&P 500 Index closing within sight of a fresh record as optimism on the possibility of further peace talks between the US and Iran pushed down oil prices.
UBS Faces New Pressure on Nazi Accounts From Senate Panel
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(Bloomberg) — The chairman of the US Senate Judiciary Committee criticized UBS Group AG for not doing enough to investigate new leads into Credit Suisse’s involvement with Nazi accounts, adding to pressure on the Swiss bank over the sensitive issue.
